7.4.2 CHANGE IN THE MARKET FOR ARCHITECTURAL SERVICES Region
Country
Change in demand for architectural services from previous year
Change in demand for architectural services from previous 5 Years
Africa
Botswana Ghana South Africa Uganda
Increase Increase -
Increase Increase -
Asia
Bangladesh Hong Kong Malaysia Pakistan Sri Lanka
Increase Increase Increase
Increase Increase Increase
-
-
-
-
Increase No Change No Change
Increase Increase Increase
No Change Increase
Increase Increase
Caribbean Antigua and and America Barbuda Canada Europe Cyprus Malta United Kingdom Pacific
Australia New Zealand
The majority of respondents appear to indicate a recovery from the global financial crisis of 2008, but with Australia, Malta and the UK indicating a somewhat stagnant market over the past 12 months.
7.4.3 RECENT EVENTS AFFECTING THE LOCAL MARKET FOR ARCHITECTURAL SERVICES Region
Country
Africa
Botswana Ghana South Africa
Y Y
Uganda
-
Bangladesh Hong Kong
Y Y
Malaysia Pakistan Sri Lanka Caribbean Antigua and and America Barbuda Canada Europe Cyprus Malta
Y Y
A slow-down in the real estate market The government undertook to consider and implement a number of positive measures after 1st July 2017 China-Pakistan Economic Corridor (CPEC) n/a Downturn in economy; global financial crisis
N
n/a
Y Y
The bail-out of the two major Banks and the economy Government policies favouring increasing foreign highincome residents and liberalised planning policies which boost demand for residential accommodation and offices Brexit
Asia
Pacific
50
Impacted?
United Kingdom
Y
Australia
Y
New Zealand
Y
Event World recession has slowed expenditure Overall growth in SA economy stalled over past 2-3 years due to instability and political and policy uncertainty ‘Not known’
The responses to this question reveal the impact of a range of external influences on the market for architectural services, ranging from extreme weather events to political uncertainty and the global financial crisis. It is interesting to note the response from Pakistan regarding the influence of China’s ‘One belt, one road’ initiative as this is likely to affect a number of other countries.
Banks changing lending criteria for foreign investors; recent federal/state government changes to address housing affordability; improved investment in commercial building and housing markets Earthquakes, Flooding, Storm events, Heavy housing shortage
Planning for Rapid Urbanisation